New Delhi, July 22 -- JPMorgan CEO Jamie Dimon, one of Wall Street's most venerated leaders and a man once on the shortlist of names to become Treasury Secretary, offered some straight talk on the value of U.S. debt and the impact of deficit spending this week.

Dimon, who at the age of 70 is nearing the end of his two decade tenure at the helm of the world's biggest bank but remains the market's central conscience, told Wilfred Frost's Master Investor Podcast that he wouldn't be a buyer of U.S. Treasuries. At least not at current levels.

"I don't understand what the upside is," he said, noting that debt and deficit figures are hitting startling levels even as the economy, and broader equity markets, continue to outperform. "[Usually] yo...